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USD/CAD tests session lows as Canadian jobs beat forecasts
The Canadian jobs report, released alongside the same from the US a short while ago has delivered a better than forecast gain in payrolls. Those rose by 40.7k which was double the consensus forecast of 20k. The underlying rate has remained static, as expected and the greater proportion of Canadian jobs created last month was full time jobs. They were significantly above expectations and at the same time the number of part time jobs fell by 29.9k So, this was very good data from Canada today and explains the downside move in the USD/CAD. That was also endorsed by the not so hot US report. Hence the USD/CAD is now setting fresh session and interim, lows as it dips to 1.3420
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